CHARLOTTE — According to the latest RE/MAX National Housing Report, the median home sale price in greater Charlotte has reached a new record high of $375,000 — that’s a 22.2% increase over the last year.
Although the prices may be higher, the number of houses on the market are decreasing.
The report finds that housing inventory in greater Charlotte is down 42% over the last year, with only 1,311 homes on the market.
Homes that are on the market are selling faster.
The average home in Charlotte sells in just 23 days, down from 33 days a year ago.
The president and CEO of RE/MAX Executive in Charlotte, Hadi Atri, said the report shows sellers are in control.
“We are facing a huge shortage of homes and affordability remains a factor for many buyers. Builders are not able to catch up with demand, and with the higher cost of material, many buyers cannot afford to purchase new construction. We are still seeing multiple offers and bidding wars. Sellers are in the driver’s seat,” said Atri.
(WATCH BELOW: It’s cheaper to buy than rent in all but three counties in the Charlotte market)
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